Short answer
Tectonic Therapeutic, Inc. (TECX) filed its Q1 2026 10-Q quarterly report on May 7, 2026 for the quarter ended Mar 31, 2026.
Q1 2026 key financials · XBRL
- Net income
- −$25M
- −58.7% YoY
- EPS (diluted)
- −$1.34
- −44.1% YoY
Source: XBRL data from the Tectonic Therapeutic, Inc. (TECX) Q1 2026 10-Q on SEC EDGAR. USD.
Tectonic Therapeutic, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $0, unchanged YoY; no product sales since inception
- Net loss $25.2M vs $15.9M YoY; operating expenses $27.3M vs $18.3M
- R&D worst-performing area, expenses $20.9M, up 60% YoY, driven by TX45 Phase 2 trials
- Cash $236.9M at March 31, 2026; operating cash use $18.4M vs $13.1M YoY
- ATM raised $1.3M net; APEX topline results expected late Q4 2026 or early Q1 2027
Risk Factors
- No material-change comparison possible; filing text lacks the prior 10-K risk-factor disclosure
- Net loss $25.2 million for three months ended March 31, 2026, versus $15.9 million
- Cash and cash equivalents $236.9 million, expected to fund planned operations at least 12 months
- TX45 remains in Phase 2 trials while TX2100 has entered Phase 1a
- Up to $100 million of common stock available through at-the-market offering, creating dilution risk
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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